BP 8000 COMMUNITY PORTAL NNN / SALE-LEASEBACK

Transcription

1 BP 8000 COMMUNITY PORTAL NNN / SALE-LEASEBACK 1141 EXPERIMENT FARM ROAD, TROY, OH Building Trust. Building Relationships. Building Value. presented by: Bart Weprin bart.weprin@weprinrealty.com

2 BP 8000 COMMUNITY PORTAL NNN / SALE-LEASEBACK Table Of Contents 1141 EXPERIMENT FARM ROAD, TROY, OH 1. PROPERTY INFORMATION 3 Executive Summary 4 Property Details 5 BP_Narrative.pdf 6 2. LOCATION INFORMATION 7 BP_Community_Terminal_Location_Map_2 8 BP_Community_Terminal_Location_Map_ FINANCIAL ANALYSIS 10 Financial Summary 11 Tenant Profiles 12 Tenant Profiles ADDITIONAL INFORMATION 14 Additional Photos 15 Floor Plans ADVISOR BIOS Advisor Bio & Contact All materials and information received or derived from Weprin Realty, Inc. its directors, officers, agents, advisors, affiliates and/or any third party sources are provided without representation or warranty as to completeness, veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of the property, projected financial performance of the property for any party s intended use or any and all other matters. Neither Weprin Realty, Inc. its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the any materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party s active conduct of its own due diligence to determine these and other matters of significance to such party. Weprin Realty, Inc. will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing. EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE. Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations including through appropriate third party independent professionals selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. Weprin Realty, Inc. makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. Weprin Realty, Inc. does not serve as a financial advisor to any party regarding any proposed transaction. All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as market conditions,vacancy factors and other issues in order to determine rents from or for the property. Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and services are marketed by Weprin Realty, Inc. in compliance with all applicable fair housing and equal opportunity laws. 2

3 Building Trust. Building Relationships. Building Value. SECTION 1 PROPERTY INFORMATION

4 BP 8000 COMMUNITY PORTAL NNN / SALE-LEASEBACK Executive Summary 1141 EXPERIMENT FARM ROAD, TROY, OH PROPERTY OVERVIEW Brand new construction, Class A, state-of-the-art facility slated to open in January % Occupied NNN Sale-Leaseback opportunity with Buffalo Pacific, a revolutionary video communications technology giant. Buffalo Pacific is committed to placing BP Community Portals in 1,000 locations by 2023 and 10,000 locations within the following 10 years. They will artfully combine access to financial services, health and wellness care and educational/community space into a resource for the citizens and beacon for the community. Their technology platform leverages time, access to specialized experts and convenience of location into a customer engagement experience that is unique anywhere in the world! Supported by 14 US Patents the technology delivers an experience that will draw people to the Portal location and spread by word-of-mouth... "you have got to see this!" PROPERTY SUMMARY Sale Price: $4,000,000 Cap Rate: 7.5% NOI: $300,000 Occupancy: 100% By enhancing access to financial services, health and wellness care and higher education, BP is embarking on an aggressive strategy to change the lives of citizens in communities around the country. The BP Community Portal combines iconic architecture, visual brand elements and fundamental community services into a trophy investment property. PROPERTY HIGHLIGHTS Sale-Leaseback / 100% Occupied ~NEW 20-Year NNN Lease with Annual 1% Bumps Buffalo Pacific Slated to Open 1,000 Community Portals Nationwide by 2023 Lot Size: Building Size: Building Class: 2.22 Acres 8,000 SF A Brand New Construction, State-of-the-Art, Class A Facility Available January 2018 Year Built: 2017 Market: Sub Market: Southwest Ohio Troy 4

5 BP 8000 COMMUNITY PORTAL NNN / SALE-LEASEBACK Property Details 1141 EXPERIMENT FARM ROAD, TROY, OH PROPERTY NAME: PROPERTY ADDRESS: PROPERTY TYPE: BP 8000 Community Portal 1141 Experiment Farm Road Troy, OH Office / 100% Occupied NNN Sale-Leaseback APN: D LOT SIZE: BUILDING CLASS: PARKING SPACES: BUILDING FRONTAGE: CROSS STREETS: 2.22 Acres A Ample / Surface 400 FT Russ Road and Oxford YEAR BUILT: 2017 CONSTRUCTION TYPE: Frame / EIFS / Dome NUMBER OF STORIES: 1 5

6 Narrative for the Buffalo Pacific Community Portal The Buffalo Pacific Community Portal is an industry leading approach to meeting the needs of a geographic community s needs for distributive access to financial services, health/wellness care, and educational opportunities. By leveraging the time, talent and location resources of tenants to provide on-demand service to prospective clients, the Community Portal creates increased revenue opportunities and efficiency for entering new markets or markets that may not have been able to be served with a traditional service model. Pulling from a 30-minute market and enabling video connectivity from the Portal and continuing to home, office and 24/7 availability for some services, we are transforming the sense of community accessibility. Buffalo Pacific created the Community Portal real estate concept as a means to infuse our 3D telepresence technology and enable the real estate to draw from multiple key segments that have recurring and high value client bases. For instance, a healthcare practice typically can develop a 500-patient panel in 12 months. However, with the advent of the Community Portal, that same 12-month period can create an extended panel of 1,500 patients by providing the access to specialists across nearly 50 health categories and 24/7 care via our QuickCare app, effectively doubling the efficiency and revenue model.* Our tenants gain access to a steady flow of high value customers from our marketing process, a 32-seat training theater, small group event space and onsite support staff to enhance their outreach and engagement opportunities in a well-rounded approach to the market. Our proposed tenant agreements are 20-year triple net leases with 2% annual COLA. With three segments generating lease income and additional sub-tenant income, the Community Portal creates an ecosystem that is self-sustainable and recession resistant, based on the presence of financial services, health and education tenants (one could argue that each accelerates in down economies). *A typical clinic draws 2.3% of the population. We estimated a 4% draw based on the expanded service offerings, 24/7 QuickCare app and convenience of a single-source for all specialists.

7 Building Trust. Building Relationships. Building Value. SECTION 2 LOCATION INFORMATION

8

9

10 Building Trust. Building Relationships. Building Value. SECTION 3 FINANCIAL ANALYSIS

11 BP 8000 COMMUNITY PORTAL NNN / SALE-LEASEBACK Financial Summary 1141 EXPERIMENT FARM ROAD, TROY, OH INVESTMENT OVERVIEW PROJECTED ANNUAL Price $4,000,000 Price per SF $ CAP Rate 7.5% Cash-on-Cash Return (yr 1)* 11.0 % Total Return (yr 1)* (pre-tax cash flow + year 1 principal reduction) $181,298 Debt Coverage Ratio* 1.58 OPERATING DATA PROJECTED ANNUAL Gross Scheduled Income $300,000 Total Scheduled Income $300,000 Gross Income $300,000 Operating Expenses - Net Operating Income $300,000 Pre-Tax Cash Flow* $109,979 *FINANCING DATA: BASED ON PROPOSED NEW FINANCING AT 25% LTV, 4% INTEREST, 25-YEAR AMORTIZATION PROJECTED ANNUAL Down Payment $1,000,000 Loan Amount $3,000,000 Debt Service $190,021 Debt Service Monthly $15,835 Principal Reduction (yr 1) $71,319 11

12 BP 8000 COMMUNITY PORTAL NNN / SALE-LEASEBACK Tenant Profiles 1141 EXPERIMENT FARM ROAD, TROY, OH Buffalo Pacific In 1993, David Allen, the founder, chairman and CEO of Buffalo Pacific, and his telepresence innovation group led a team of seasoned entrepreneurs to create the commercial concept of Telepresence. Inspired by his vision to expand occupancy within his hospitality business, Mr. Allen designed an innovative system of Telepresence that allowed a person to be virtually present in a conference setting such that all participants would feel as if they were actually together.in this way, his invention not only negated the need for travel, but also most effectively leveraged an individual s time, talent and resources. During the following 20 years, industry players both large and small exploded onto the scene along with rapid advances in the development of video communications hardware, software, and high-bandwidth dedicated networks at cheaper prices all to create the more efficient and heightened Telepresence user experience we have today. TENANT HIGHLIGHTS BP Developed a Visually Stunning & Interactive 3D Video Communications Platform known as the Omni-Solutions Series This Technology will be Utilized within the Community Portals 1,000 Portals to Open by 2023 and an Additional 9,000 Portals to Open within the Following 10 Years In 2012, a company called TelePresence Tech (TPT) perfected a revolutionary TelePresence system and solution like no other. Supported by a series of more than 14 patents, these communications systems not only provide life-sized, high- definition video images of the participants, including full eye contact, but they also do it without 3D glasses! Armed with a 225,000 square foot state-of-the-art manufacturing facility, TPT has a robust production and distribution model.together with TPT, Buffalo Pacific (BP) has developed a visually stunning and interactive 3D video communications platform known as the Omni-Solution Series and today support the Buffalo Pacific Omni-Branch Community Portal. By utilizing the Omni-Solution Series to interact with their customers, BP s clients best leverage their time, talent and location to increase their productivity, revenue generation potential and ultimately, their bottom line.the Omni-Solution Series features a product suite of 10 fully engineered customer service solutions, all of which provide HD video in real-time and enjoy full-eye-contact capabilities within a broadcast studio environment boasting theater-quality sound and lighting. In 2013, the first full Omni-Solution Series units left the production line and entered the financial services world destined to change the industry landscape of customer experience for financial firms across the country. Today, our Five Key Transformation Initiatives are housed within the Community Portal and will drive organizations forward to create a new depth of relationship with their customers, patients, students, and clients.with a goal of 1,000 Community Portals operational by 2023 and 10,000 in the following 10 years, BP is changing the customer service industry s approach to the client experience! 12

13 BP 8000 COMMUNITY PORTAL NNN / SALE-LEASEBACK Tenant Profiles 1141 EXPERIMENT FARM ROAD, TROY, OH Buffalo Pacific LLC / Company Description Buffalo Pacific LLC provides financial, health-care and educational services to traditionally underserved communities and individuals through the development and utilization of Buffalo Pacific community structures called portals. These portals have been uniquely designed to be equipped with patented 3D, autostereoscopic, telepresence technology which projects a remotely located professional into the portal s private device, thereby creating an authentic, virtual presence experience for the conference participants. The community portals are constructed as single-story pavilions with separate wings on either side dedicated to addressing financial services (FinTech) and healthcare services (MedTech) respectively; while the center unit, located under the iconic blue dome, is dedicated to providing services related to education (EdTech). The virtual telepresence experience is facilitated through the operation of patented 3D terminals trademarked as Omni-Series products (e.g. kiosks, booths and desks), all designed to provide the users with varying levels of quality, privacy and scale of generated images. Standardized master plans governing the architectural and engineering designs for the portals have been created to meets the demands of the varied architectural codes around the nation, enabling speed of construction regardless of location, and thus rapid corporate expansion. The Company will generate revenue through three revenue channels: (1) sale-leaseback of constructed and completed Portals; (2) operation and management of Portals; and (3) licensing and sale of Omni-series products and equipment for third-party use and development. 13

14 Building Trust. Building Relationships. Building Value. SECTION 4 ADDITIONAL INFORMATION

15 BP 8000 COMMUNITY PORTAL NNN / SALE-LEASEBACK 1141 EXPERIMENT FARM ROAD, TROY, OH BP Omni-Series Units 15

16 BP 8000 COMMUNITY PORTAL NNN / SALE-LEASEBACK Floor Plans 1141 EXPERIMENT FARM ROAD, TROY, OH 16

17 Building Trust. Building Relationships. Building Value. SECTION 5 ADVISOR BIO

18 BP 8000 COMMUNITY PORTAL NNN / SALE-LEASEBACK 1141 EXPERIMENT FARM ROAD, TROY, OH Advisor Bio & Contact BART WEPRIN President Professional Background Bart Weprin serves as President and Managing Broker for Weprin Realty, Inc., specializing in the sale of multifamily, office and net lease properties throughout the United States. He has over 20 years of experience in commercial real estate. Weprin's success is based on the understanding that each property is more than facts and figures and each sale is more than a dollar value; it is about client service and building relationships. He knows that any given transaction must fit into the big picture for his clients and their life goals. Prior to establishing his own company, Weprin Realty, Inc., Bart spent 12 years as a Managing Director for Sperry Van Ness Commercial Real Estate consistently ranking among the top 15 sales advisors out of more than 800 nationwide. He has also served as a Senior Investment Associate with Marcus & Millichap in Cincinnati, Ohio. During his career, he has secured over 200 transactions valued at over $400 million Liberty One Drive Liberty Township, OH T C bart.weprin@weprinrealty.com Memberships & Affiliations A resident of Cincinnati/Dayton, Ohio, Weprin is the past president of the Ohio Commercial Real Estate Exchanges Association. He is a CCIM candidate and a licensed real estate broker in Ohio. Education Bart received his bachelor's degree in business from Ohio State University. 18